Two Rules: 1. Preserve The Principal 2.

The Stock Market Is Designed To Transfer Money From The Active To The Patient.

That Would Be Nice If [people] Stuck [treasury Bills] All Under A Mattress, But They Got To Buy Something With Them. Sometimes They Buy A Treasury Note, Sometimes They Set Up Sovereign Wealth Funds. They Can Do All Kinds Of Things. They Can Buy Our Companies Here. As Long As We Consume More Than We Produce, And We Trade Away Little Pieces Of The Country Daily, They're Going To Own Something. Now, They Can't Run From American Assets. I Mean Every Day The Rest Of The World Is Going To Have About Two Billion More Of American Assets Than We Have, As Long As They Sell Us These Goods.

Risk Comes From Not Knowing What You're Doing.

When Forced To Choose, I Will Not Trade Even A Night's Sleep For The Chance Of Extra Profits.

Confidence Is Key. You're Not Going To Put Your Money - You're Not Going To Leave Your Money With Me Unless You're Confident I'm Going To Give It Back To You.